Solana Technical Analysis: Bullish Signals Emerge, Are We Ready for an Upsurge?
Current Price: $253, Down 1.72%
Although Solana has recently experienced a slight pullback, it seems to be adjusting and preparing for the next wave of upward movement. Here are three possible target price levels:
Target One: $260
If Solana can break through the 24-hour high of $257.83, the next target may be the resistance level of $260. At this point, the likelihood of a breakout will significantly increase with the rise in trading volume.
Target Two: $275
If it breaks $260, Solana is expected to rise further to $275, a price point that aligns with the upward channel trend line on the 4-hour chart. Special attention should be paid to the support strength in this price area, as breaking this resistance level will provide further upward momentum for the price.
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Target Three: $290
If the upward trend continues, $290 will become the next foreseeable target, representing about a 15% increase from the current price. However, when reaching this price level, the market may encounter stronger selling pressure, so it is important to watch for any reversal signals.
Key Price Levels:
Support Level: $245 (24-hour low) and $240.93 Resistance Levels: $260, $275, $290
Technical Indicator Analysis:
RSI (Relative Strength Index): According to the daily chart, Solana's RSI shows slight overselling, suggesting there may be room for a rebound.
From the current trend and technical indicators, Solana is accumulating upward momentum. Investors should closely monitor the breakthroughs of these key price levels to seize potential trading opportunities.
